Toronto, Ontario--(Newsfile Corp. - October 24, 2019) - This press release is being disseminated as required by National Instrument 62 103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the indirect acquisition of securities of Brampton Brick Limited (TSX: BBL.A) (the "Company") by Rudolph Bratty ("Rudolph") through Ruland Realty Limited ("Ruland"), a company controlled by Rudolph.
On October 23, 2019, Ruland acquired ownership of 266,800 Class A Subordinate Voting Shares (the "Subordinate Shares") of the Company, representing approximately 2.9% of the Company's issued and outstanding Subordinate Shares on an undiluted basis. Ruland acquired the 266,800 Subordinate Shares pursuant to a private transaction at a price of $7.192770833 per Subordinate Share for total consideration of $1,919,031.26.
Rudolph is the owner of Ruland, and has direct ownership of 275,400 Subordinate Shares, 1,000,000 Subordinate Shares through Demaru Developments Inc. and 25,000 stock options of the Company, which together with the 506,923 Subordinate Shares owned by Ruland represents approximately 19.5% of the Company's issued and outstanding Subordinate Shares on a partially diluted basis.
The 266,800 Subordinate Shares were acquired for investment purposes. Rudolph may, from time to time, take such actions in respect of his holdings in securities of the Company as he may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the Company or securities exercisable for, or convertible or exchangeable into, securities of the Company, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of the Early Warning Report filed on SEDAR.
A copy of the Early Warning Report with respect to the foregoing is filed under applicable securities laws and is available under the Company's profile on SEDAR at www.sedar.com.
Rudolph Bratty and/or
Telephone: (905) 761-8200
NOT FOR DISTRIBUTION TO UNITED STATES OF AMERICA WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OF AMERICA
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49119